According toGeorge Akerlof's article, "The Market for 'Lemons': Quality Uncertainty and the Market Mechanism,"

• How can asymmetric information lead to adverse selection, and how does this apply to a market for used cars?
• What are the implications of this issue for insurance, employment, fraud, or credit markets in developing countries? (Choose one).
• What are some ways markets can overcome this kind of adverse selection problem without resorting to government intervention?